New Zealand's central bank registers Revolut as country's 27th bank

Nov 3 : New Zealand's central bank said on Tuesday it had registered Revolut Bank New Zealand, allowing the company to provide banking services in the country.

Here are more details:

• Revolut Bank New Zealand is part of the Revolut group, whose ultimate parent is London-headquartered fintech Revolut Group Holdings

• The company has operated in New Zealand as a financial services provider since July 2023, and the license makes it the country's 27th registered bank, the Reserve Bank of New Zealand said

• The bank logged a loss after tax of NZ$4.9 million ($2.76 million) for the seven months to July 31, 2026, after reporting a loss of NZ$3.5 million in 2025, its disclosure statement from October showed

• S&P Global Ratings on Tuesday assigned the bank a 'BBB+' long-term issuer credit rating

• The bank's credit profile is weaker than New Zealand's major banks, given the start-up nature of its business in the country, S&P added